Economy Strengthens Thru Strong Earnings Season

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after economy strengthens thru strong earnings season. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

U.S. stocks opened higher on Friday as quarterly earnings top estimates, while the economy continues to grow. AbbVie, Honeywell, Intel and Rockwell are among the latest companies to report better-than expected earnings and revenue. Overall, this earnings season have been strong thus far.

The Dow Jones index rocketed higher by 223 points closing at 26,616. The Nasdaq had similar luck climbing 94 points finishing at 7,505.

New fresh record highs for all 3 major averages…Dow, S&P 500 and the Nasdaq. Strong earnings reports from Abbvie (+13%), Honeywell (+2%) and Intel (+10.5%) as these companies beat on both the top and bottom line. The S&P 500 had its biggest one day gain since March of last year. All 3 major indexes posted weekly gains of at least 2%. The 4th quarter 2017 GDP number did come in a little disappointing this morning. The US economy grew by 2.6% last quarter. Estimates were calling for 3%.

Technology had a strong showing by MSFT +2% and FB +1%. Discretionary was held up by AMZN +1.75%, DIS +1% and NFLX +2%. SBUX dropped a whopping 4% after reporting disappointing quarterly numbers. As mentioned above, healthcare (XLV) had a strong bid today. All of its top 10 holdings were in the green and 7 had 1% or higher gains.

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

About the authorTim Link

My goal is to provide a blog that consolidates stock market information for the average investor from at least five credible sources including stock reviews, analysis, financial news and market trends by sector.